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there maybe good news coming of the $6,033,474 owed to creditors[new 8k] to be paid off s.masjedi is owed just under $ 1.5 million.yet as of dec 31 2021 from 2022 10k the $150,000 owed her showed as paid.so iam thinking she recently put up her money for some reason not showing in filings and hopefully its an acq? 2023 10k showing nothing owed to s.masjedi.so here is to hoping all good?imo
The following table presents a summary of the Company’s promissory notes issued to related parties as of December 31, 2021:
Noteholder Note Amount Issuance Date Unpaid Amount
S. Masjedi $ 150,000 12/10/2010 $
Good news. There is dilution involved though. I guess an unintended silver lining on the current situation is the marketcap is so low… so PACV should absorb the dilution and the SP could have room to climb if the company has good news in the pipeline that would adjust up the marketcap.
And they were supposedly negotiating the TCA debt as well. Wonder where they are with that.
Big burden gone but...now what?
*8K 10/27/23
On September 6, 2023, Pacific Ventures Group, Inc., a Delaware corporation (the “Company”), entered into a settlement agreement and stipulation (“Settlement Agreement”) with Trillium Partners, LP (“Trillium”) in connection with the settlement of $6,033,474.16 of bona fide obligations the Company owed to certain of its creditors. The Settlement Agreement was subject to a fairness hearing and, following such fairness hearing, on October 10, 2023, the Superior Court of the State of California, County of Los Angeles, Central District (the “Court”), entered an order approving the Settlement Agreement.
If the Settlement Agreement is satisfied in full, the Company shall reduce the Company’s debt obligations in the aggregate amount of $6,033,474.16, in exchange for the issuance of shares of Company’s common stock (the “Settlement Shares”) pursuant to the provisions of Section 3(a)(10) of the Securities Act of 1933, as amended, in multiple tranches. It is estimated that the Company will, pursuant to the terms of the Settlement Agreement, issue to Trillium approximately $9,282,267.93 of Settlement Shares, if the Settlement Agreement is satisfied in full, which represents a 35% discount to the market price of the Company’s common stock. At no time may Trillium beneficially own more than 9.99% of the Company’s outstanding common stock.
anyone here pacv have a clue on whats going on?
They are running out of time. They have a certain amount of time to enact the RS before it expires and I believe the deadline is sometime in mid-October.
PACV???? WHEN IS THE FREAKIN REVERSE SPLIT COMING????
.0004? Good job Shannon Masjedi!!Thanks for the improved communication with your shareholders you promised. Not that we believed you anyways seeing as everything else you have promised fell through. I’m sure you are still living that lavish lifestyle!!
Something might be up here!! Somebody bought 52 shares today. Was that you Shannon?
sure! maybe restaurant business is way off too?
Been there already and it didn't work out well. That is what she and her partner know though.
You might be able to have supply. Doesn't mean you can sell it or get your customers to pay their invoices timely.
wonder whatever hapened to the pacv mexico meat venture or is that forthcoming?
"Seaport Meat Company, a wholly-owned subsidiary of Pacific Ventures, will be introducing a new line of high quality protein and beef products imported from Mexico."
She’s got to be absolutely delusional to think she will get more interest after a reverse split, without groundbreaking news.
Nobody wants it at .0005.
Thanks management for all your effective leadership and communication.
You still holding? Be nice to hear from management about moving the business along.
this new fins showing accounts payable at $4.8 million way too high-some pacv quarters were in the $3 million plus range..imo pacv too top heavy
on employee number with this decline in revenue.they should make cuts asap below from latest 10k annual.
Employees
As of December 31, 2022, Pacific Ventures comprised three employees who manage the affairs of the parent corporation and the operations of its subsidiaries. On an as needed basis, the Company hires independent contractors to perform specific tasks related to the Company’s business interests. Seaport Group Enterprises LLC has 65 employees. Royalty Foods Partners LLC has 12 employees.
I disagree. They have a negative cash balance, $20+ million in debt and their gross profit margin is down to 11%, Plus about $4mm of that debt in advance receipt funding (think payday loans). They are advanced money and the lender makes 30-35% interest and takes payments weekly. Not to mention the pending 1:250 reverse they are filing with Finra. Lastly, look at accounts payable, $4mm, they are stretching payables so far they may be on cod basis.
my understanding from pacv lenders will work with pacv so we will see how that works out.
actually pacv fins dont look all that bad they are cutting costs and reducing quartely deficit and if pacv can get back to their old $10 million revenue quarters they
may begin to turn a profit? and that last sentence sent to me by an accountant east coast who sold but still follows pacv.
It will get worse. They are completely bankrupt and 27 millions dollars in debt. Shannon Masjedi has lost all respect and credibility from anyone who has ever fallen for her scams. How can they possibly turn things around at this point?
Glad I'm out of one of the most mis-managed companies on the OTC!
Just amazed they filed the Q, but what a TRAINWRECK!
we are pretty much bottomed out here any good news would be helpful.
I’d start with Shannon Masjedi whose blatant lies over the years has cost investors dearly. Not sure how anyone can be so useless running a company that sells food.
just hope pacv is making cuts in payroll.
what a disaster, absolute disaster. I dont know what to do, they cant even keep up with their revenues, let me guess, they lost a couple big customers.
Shannon Masjedi is a scammer!! Do not spend your hard earned money here.
Coming up on 6 months since:
"LOS ANGELES, CA / March 28, 2023 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a consumer-centric holding company specializing in the distribution of food, beverage and alcohol-related products, today announced that it is expanding the number of high quality products it offers.
Seaport Meat Company, a wholly-owned subsidiary of Pacific Ventures, will be introducing a new line of high quality protein and beef products imported from Mexico. As one of America’s leading meat processing foodservice distribution companies, Pacific Ventures will continue to diversify the supply chain and target customers looking for a variety of price points. Mexican beef is rated highly for desirability and quality. Results from surveys and testing indicate Mexican beef is in an advantageous position when competing with other beef products in the current open market.
“As mentioned in our shareholder letter earlier this month, Pacific Ventures is entering its next phase of growth and we will create new opportunities and operational efficiencies. We believe that the company will be able to cross-market to our existing customers and attract a number of new customers with these new products. By offering quality beef products from across the price spectrum, we are confident we can drive increased revenue and simultaneously increase our margins,” stated President and CEO Shannon Masjedi of Pacific Group Ventures."
.0004 close today! Lock Shannon Masjedi up and throw away the key. Great job quitting on your shareholders.
Shannon’s such a crook. I can’t believe this is still trading this high. I guarantee she is still pulling a great salary and stealing huge amounts of money from the shareholders who financed her scam.
especially with all the hype of a possible big acq. last year.
Spring turned into summer and in less than a couple weeks we'll be in fall. Ridiculous lack of follow through to this point from PACV.
moving right along here at pacv!
Fair enough. I just won’t let Shannon pull off her scam any longer. She is a terrible human being!
lol I dont think anyone here helped, she's proven herself completely ruining things all by herself. It's breathtaking. How we could be in this situation with the amount of revenues that we have is mind-blowing, I am at a loss of words. I hope we can get ourselves out of this mess.
They don’t have to file for bankruptcy for all us to know they are bankrupt! Shannon Masjedi mislead her investors into thinking that her company was making great revenues and then all of a sudden started diluting shares. Then she went silent. The stock plummeted and now we are looking at a huge reverse split. She is a criminal and should be thrown in jail along with the pumping pieces of trash here that have promoted her failing business. She straight out lied and when she gets caught so will all the others here that helped. Do you agree?
Not disputing Shannon’s failures and consistent losses for investors. Am disputing disinformation. They did not file for bankruptcy. That is an outright lie.
Dude, all I’m saying is every investor who put money into this company is at a huge loss because of the lies and misinformation by not only Shannon but also certain posters here who are also likely in on this scam.
Dude. All I’m saying is they didn’t file BK. That statement was misleading. Over and out.
Please tell me you don’t honestly think there is any hope for this company after they way Shannon Masjedi deceived her shareholders. They have endless issues. What amazes me is the amount of money Shannon has paid herself over the years for running her business so terribly. She is by far the worst CEO of any OTC company. She is absolutely useless! Just get the reverse split over with already so that we can lose even more money!
They have not filed for bankruptcy. Let’s keep the facts straight.
Yes they have cash flow issues, and other issues.
How is it possible to be optimistic? They are bankrupt! They lied to investors. No volume. Shannon Masjedi still collects a huge salary. She is the only person who is benefiting. It’s a dilution scam. She hasn’t filed on time in years. This is done. Accept the loss!
thnx! i have little choice but to hold here iam upside down so like you hoping for a move.
$PACV HOLDING FOR MOVE.
So the TA stopped reporting the SS?
I personally guarantee that Shannon Masjedi will never pull off another scam again! I’m still stuck with millions of share of this trash. I will however get my money back from these crooks no matter what it takes!
Same old shit here, just a different year.
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